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Digital payments platform Paytm Payments Bank on Monday announced its partnership with IndusInd Bank to introduce a first-of-its kind facility to create a fixed deposit when the balance of a customer's account exceeds Rs one lakh, at the end of the day.
Additionally, if a customer becomes a senior citizen before the maturity period, the deposit will be auto renewed under the senior citizen scheme, thus earning higher interest.
These specially branded outlets will play a key role in bringing banking access to smaller cities and towns by ensuring customers find it easy to locate an access point near them.
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